MercoPress. South Atlantic News Agency

Good performance of Paraguayan economy last year: 6.8

The Paraguayan economy boosted by the faro sector Grez 6.8% in 2007, which is higher than originally forecasted, 6.4%, according to the country's Central Band president German Rojas.

Rojas described the 2007 growth as the highest rate in the last 25 years and represents a "totally genuine expansion of the economy", since the expansion of the eighties was boosted by the construction of the Itaipú Paraguayan-Brazilian hydroelectric dam, the largest in South America. The president of the Central Bank said that numbers for 2007 were reviewed last December, reaching 6.8%, several points ahead of the initial September estimate of 6.4%. "The building sector, communications and soy and beef exports marked the pace last year". Regarding forecasts for 2008, Rojas said that "growth rate remains in the range of 6%", as long as the cash crops and overall economic activity keeps steady". "We have strong winds pushing the economy, so we can be reasonably certain of good prospects", said Rojas.